Asking price of homes

[Rag Bagger]

Does anybody know what the selling price vs the asking price may be. I know it varies but an approximate percentage would be helpful.

[graciegirl]

On new homes they are both the same. There was a recent thread that showed what homes had been selling for on average below the asking price, this for resales.

[Lucko]

New homes on The Villages web page some times have a discount shown, but not much negotiation is allowed -- it's kind of take it or leave it on new homes in TV -- Recent new prices seem 5 to 18 percent lower than in 2006, but location and view are big factors as are upgrades or lack of upgrades -- Pre-owned are more difficult to compare because of changed designs, name changes and owner upgrades -- happy hunting -- Lucko

[colleenj]

When I came down to look (and ultimately bought!) in May, my Villages sales agent said most resales were selling for 96%-97% of asking price. The outside realtor I met with said the same thing, that resales were going for around 97% of asking. I offered a little less than 94% of asking and it was accepted. I think like everything else, it depends on how badly the person wants to sell.

[l2ridehd]

I had been tracking prices for over a year before I bought. I went back and looked at asking price and then checked what they actually sold for. The figure you got of 96% to 97% is exactly right. A few go for less. Saw one at 91% and a few at 94%. But others went for 100%. I did an average of 126 homes and it was 97.2% of the asking price. Now what I can't tell is what else was done in the contract. Points, golf cart, closing dates, and potential other items the seller or buyer may have got. But pure data gave a 97.2% of asking price. Actual with extras is probably just slightly less.

[Lil Dancer]

That's good information to have on hand. Thank you!

[Rag Bagger]

Thanks for the input.

Today we did our first tour of homes. My TV Realtor said 2 to 3 Percent was average reduction of listed price. However we found one we liked that was higher than our budget, of course. Our Realtor has been pushing us to make an offer at our budget which would be an 11 percent reduction.

The home has been on the market a long time. It is In the North and backs to a farm. That is worrisome and may explane the reduction in price. We have no control over what happens to that farm land.

[villages07]

Lincoln,

Make sure you study the map and surrounding area very carefully....there is a very busy train line that runs along the western border of The Villages...very close up in the far NW corner.

[Russ_Boston]

Lincoln - Ditto what V7 said about the train. Park yourself on the land for the better part of a day and listen carefully - especially at night.

I do echo your thoughts about backing up to open land. If it isn't deeded to the state as permenant conservation or preserve - BE CAREFUL. This is Florida and only God knows what the eventual use of the land will be :dontknow:

If its a resale then stick with the devil you know!

[blueeagle65]

From what I know of it there is no bargining on new homes and very little on re-sales.

[livsea2]

If you are interested in resales, go on the site lylesellsfla.com he shows the sales in the current month with the asking price. Also he lists a spreadsheet listing recent sales vs. asking price. Lyle's site has a lot of great information about buying in the villages. ;)

[KayakerNC]

**snip**
Also he lists a spreadsheet listing recent sales vs. asking price.**snip**

I haven't found that spreadsheet. Could you post a link to it?
Thanks.

Whoops! Wait! I found it, the "Sold Stats" pdf. Persistence pays, I guess.

[tkret]

I haven't found that spreadsheet.
Could you post a link to it?
Thanks.


KayakerNC,

Try this:
http://www.lylesellsfla.com/frame.shtml?http://root.z57.com/filemanager/uploads/d/9/d9f02fa5-ab61-741d-9908ebac87afbf82.pdf

if that doesn't work just go onto Lyle's website at http://www.lylesellsfla.com then click on "Special Listings" on the upper left side of the screen. Next, in The Villages section you will see "sold stats" with the pdf. logo and just click on that.

[KayakerNC]

Thanks tkret.
I think your post beat my mod by less than a minute. I appreciate the information.

[tkret]

Thanks tkret.
I think your post beat my mod by less than a minute. I appreciate the information.


You'll notice, KayakerNC, that the average, according to Lyle's stats, is 7% reduction from asking price to sales price.

[rshoffer]

[quote=graciegirl ]
On new homes they are both the same. There was a recent thread that showed what homes had been selling for on average below the asking price, this for resales.
[/quote When we came for our lifestyle tour Sept 07 we were told "they never budge on the price of new homes.... wrong! by November 07 the SAME homes were discounted 40 thou. Be careful]

[l2ridehd]

There are two items that really seem to impact prices on homes in TV. If you're ever wondering why you can buy a new Camellia for 220K look at the map and see where it is. If you go look you will see it is very close to the power lines. These metal angels have about a 20% negative price impact on both new and resale homes. The closer to the power line the greater the impact. My better half will not even look at a home where they can even be seen from the front or back yard. Some people they may not bother at all as those homes do sell, but they definitely impact price. I have data on sales that go back over a year now and support that 20% statement.

The second item is backing to a busy road. Morse or Buena Vista and to a lesser degree Canal and others like that. Doesn't seem to effect those that are a couple houses away, but mostly those that directly back or front on a busy street. From my research, a little less then the power line, but still an impact. Probably about 10%. Again probably doesn't bother everyone.

So the old adage of the 3 most important things in real estate, location, location, location holds true in TV also. So those of you that buy from afar, get the map and understand where these metal angels pass though TV and know what that impact will be.

[Just Susan]

Google Earth, a free download program, there are several others, also available, will give you aerial views of the areas around any home that you may want to buy. I use it when I look at the homes for sale online. Helps to narrow down my search and gives me a heads up to potential problem areas.

Might prove helpful for you.

[Barefoot]

If a resale home is well priced and attractive and in a desirable location, it will probably sell quickly for 97% of list price.

If a home starts out priced too high, it eventually becomes stale. I would guess that over 50% of resales start out priced too high "We're not giving our house away" syndrome. (Folks, selling for market value isn't giving your house away).

Wall paper, run-down houses and lack of back yard privacy are usually major turn offs for buyers. After repeated price reductions over a period of time, a resale may well sell for considerably less than list price.

Recently I watched one resale home listed at $289,000 end up selling for $264,000. They had turned down higher offers thinking they would "hold out for more". They eventually sold for a lot less because they ran out of time.

There are bargains out there for sure. Villages agents will rarely encourage a low-ball offer. But if a house has been sitting for a while, it is well worth a try. "Time on market" is key.

[ijusluvit]

There are other factors affecting price. Golf and water views raise the price but you can find a wonderful looking location which turns nightmarish when golf balls regularly land in your yard... or you are close enough to hear all the naughty and angry stuff said at 7:00 am... And in some places the golf carts sound like they're going through your lanai... And you might find it difficult to escape the hot sun if your home faces in the wrong direction...

I'm sure there are many more stories out there.

[Barefoot]

View lots can add anywhere from $40,000 to $200,000 (I am told by a Village agent). Ijusluvit is correct, there are so many variables that affect market price.

The original question was list price versus sale price. The "party line" by TV agents is that resale houses sell for 97% of asking price.

[bobolink46]

this has been incredible useful info. we are coming for a lifestyle visit next weekend with the possibility of purchasing. We sold our house and took a large discount off the asking price and thought we could do the same in the villages. the trouble with buying a new house is the darned bond issue. It can add 22,000 onto the price of the house while if you look in some of the not so old but south of 466 villages the bond was half that. the trouble is that those people bought when the market was high and think they can still make a profit.

This is a really hard decision for us.

[rshoffer]

why don't you take your time and rent for 3-6 mos?